Wednesday’s upcoming tariff announcements provide a wide range of possible outcomes. The uncertainty and downside risks to the economy and earnings have rattled markets.

The stock market fell significantly on Thursday after President Donald Trump’s “Liberation Day” announcement. Trump began his “Liberation Day” announcement after 4 p.m. on Wednesday, when markets closed for the day,

While there are a few concerns that have investors' attention at the moment, including a forecasted contraction in first-quarter gross domestic product, along with the historic priciness of stocks, perhaps the prevailing issue for the stock market is President Donald Trump's tariff policy.